Magazine

Small Cap Review: BURST – Looking strong in a weak market

Fundamentals

Fundamentally Burst has been one of the more interesting coins on the market as it was the first to introduce Proof-of-Capacity mining back in 2014.

The coin was launched as a fair HDD-mined coin with no ICO and unique mining software via the popular Bitcointalk forum. Burstcoin’s github is still very active to the current date, with developments ongoing with the coin itself and a wallet written in Go labeled ‘Aspera’.

Burstcoin features include a tangle-based network with free instant transactions and an almost unlimited scalability that depends on the number of users (nodes) on the network. Tangle has been first used in IOTA, but Nano had an earlier development that was similar, which was named as a Block Lattice.

Technicals

➤ Bounced off a historical moving trendline, showing that there is strong support there.

➤ Bullish divergence on a long time-frame

➤ RSI broke out of a falling trendline

➤ MACD turning green showing interest in the market

➤ The price reached a historical resistance, breaking this would be extremely positive

➤ Moves against the current general trend

Advice for this market: When entering the market, a stop-loss at the previous local bottom (first point of the divergence) should be advised. Breaking below that could invalidate the attempt to break upwards through the resistance.